Bloomberg:
- China will find gold bullion too expensive to buy at current 25-year highs, traders said.
- Mortgage applications in the US fell last week by the most since February as higher borrowing costs slowed purchases and pushed refinancing to its lowest level this year.
- The Bank of England lowered its forecast for economic growth next year to about 2.75%.
- Nasdaq Stock Market(NDAQ) bought $239.4 million of London Stock Exchange Plc shares, raising its stake to 22.7% and strengthening its hand against potential rival bidders.
- Almost half of US population growth last year was Hispanic, adding the equivalent of a city the size of Phoenix, US Census Bureau stats showed.
Wall Street Journal:
- Verizon Communications(VZ) is soliciting offers for two large sets of traditional telephone lines with a combined value of about $8 billion.
- Recent patent cases in which Eli Lilly(LLY) has been involved point up the difficulties pharmaceutical companies face in research work.
- Yahoo!’s(YHOO) Internet service and GE’s(GE) Telemundo broadcast network will merge their Spanish-language Web sites in the US as they try to zero in on a growing Hispanic market.
- The Internet Corp. for Assigned Names and Numbers may vote today to decide if “.xxx” will become a suffix for adult Web sites.
- TiVo Inc.(TIVO) has agreed with Brightcove Inc. on a system that will let TiVo viewers download and watch video from the Internet on their televisions.
- ImClone Systems(IMCL) and Bristol-Myers Squibb(BMY) are developing a price cap for the Erbitux cancer drug amid public concern about the price of caner medications.
Washington Post:
- The Republican Party is seeking to garner black votes, historically a Democratic constituency, by fielding black candidates in three significant races.
- VaxGen’s(VXGN) $877.5 million contract to supply the US government with 75 million doses of anthrax vaccine faces new delays that may push delivery to late 2008 or kill the program.
LA Times:
- California Governor Arnold Schwarzenegger plans to use a $5 billion surge in tax revenue to pay down the state’s debt and build a reserve fund.
HandelsZeitung:
- Microsoft(MSFT) may develop a hardware device that integrates media functions such as taking photos, making phone calls and listening to music, citing CEO Ballmer.
Sarmayeh:
- Iran is pushing ahead with plans to crack down on people who use satellite dishes to receive foreign television channels, saying the broadcasts are “threatening society’s psychological security,” citing Interior Minister Mostafa Pour Mohammadi.
AP:
- The US House of Representatives approved a bill that restricts anti-war demonstrations at military funerals.
CNBC:
- Electronic Data Systems(EDS) may boost its forecast for 2006 contracts at the end of this quarter, CEO Jordan said.
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